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Vivendi decides against ‘straight break-up’

Vivendi finance director Phillipe Capron on Thursday ruled out a “straight break-up” of the giant media conglomerate, saying it would be difficult to split the group’s telecoms and entertainment units in terms of debt and other borrowings.

The French company, which has endured a sustained decline in its stock price over the past year, owns a vast array of assets - including Maroc Telecom, EMI, a majority stake in Activision Blizzard and a minority stake in SFR.

Separately, Science Applications International Corporation, advised by Citigroup, on Thursday said that it intends to break itself into two listed companies, becoming the latest enterprise to pursue a carve-up of its assets. SAIC said that it will spin off its government services unit from its national security business division.